c. Assume the original facts except that Jeremy had only $7,000 in itemized deductions. What is Jeremys total
income tax liability?
For AGI deductions
Adjusted gross income
1. What are the five basic parts of an internal research memo?
The memo has five basic parts: (1) facts, (2) issues, (3) authority list, (4) conclusion, and (5)
2. In writing a research memo, what types of facts should be
Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremy has two qualifying
dependent children who live with him. He qualifies to file as head of household and has $17,000 in itemized
deductions. Neither of his dependents qua
38. [LO 1] Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building.
This year Betty had the following income and expenses. Determine Bettys AGI and complete page 1 of Form 1040
for Betty. Be sure to consider